XRPUSDT → A favorable prospect within the uptrend

XRPUSDT is testing trend support after exiting the triangle. Traders' interest in Ripple continues to grow on the unstable fundamental background

On W1 we see a formed bottom, the bulls do not let the price to this area, continuing to cumulate the potential within the framework of gradually rising prices. An uptrend continues to form on the chart, but globally, Ripple is squeezed under strong trend resistance.
On D1, price is testing support and one of the key liquidity areas. There is a chance that price could still test 0.493 in a false breakout format before further upside, but even at current price positions, the market has good potential for further upside to 0.7325.

Support levels: 0.493, 0.420, trend support
Resistance levels: 0.585, 0.648, 0.7325

Since the price movement is limited by a number of reasons both fundamentally and technically by the range boundaries, it is highly likely that the XRP movement will continue from support to resistance

Regards R. Linda!

Commentaire:

Fundamental:
Trader interest in the asset continues to grow. The number of wallets continues to increase, as evidenced by reports from companies engaged in analyzing the cryptocurrency market.

There has been frequent mention lately that a BTC-ETF, ETH-ETF may be followed by an XRP-ETF, but the difficulty lies in the ongoing litigation between Ripple and the SEC. The proceedings could take place in late winter 2024, which could partially determine the future outlook for the asset.

Commentaire:

Commentaire:

Lol, and XRP was hacked today :0